# 32 GB of storage – A solid increase from the current max of 16 GB.

# An upgraded 600 Mhz processor – More speed! The current iPhone 3G clocks out at 400 Mhz.

# 256 MB of RAM – The current iPhone has 128 MB of RAM. So far this is looking pretty good.

# A 3.2 Megapixel camera with autofocus

# A digital compass

# An FM radio

via Poster on Chinese forum leaks next-gen iPhone specs | NetworkWorld.com Community.